Smith Moore warns of crypto con as victim is pushed to wire $50,000 for fake windfall

NEW BLOOMFIELD — This month's Would You Fall For It centers on a real-life example of an investment scam involving a Smith Moore client.

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The client struck up an online conversation with someone who claimed to be an attractive young woman in the investment business in New York City.

She convinced him to invest $5,000 in cryptocurrency and, within a week, convinced him that she had turned it into $1.2 million.

She brought someone else on the phone to explain that, due to regulatory issues, he would have to wire them $50,000 so they could file the necessary paperwork to release his $1.2 million to his account.

How many red flags can you spot in this story?

Dan Moran with Smith Moore walks us through this story in the interview above.